A PYMNTS Company

EU: Salmon farming merger risks sanctions for merger

 |  March 31, 2014

The world’s largest salmon farmer, Marine Harvest, is reportedly facing possible fines for closing a merger with a rival without first seeking approval from regulators for the deal.

According to reports, Marine Harvest acquired Morpol with a 48.5 percent acquisition in December 2012. Marine Harvest did not seek approval for the merger by the European Commission until eight months later, reports say.

In a statement released Monday the Commission said that the firm’s failure to first approach regulators for the deal “affects the structure of the market and may make it more difficult for the commission to restore effective competition where necessary.”

The Commission has now lodged a statement of objections against the company; that decision can be appealed by Marine Harvest, but the company faces a fine over the situation.

Full Content: Businessweek

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.